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1、 Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1 MarketLine Industry Profile Defense Spending in Japan August 2013 Reference Code: 0104-2405 Publication Date: August 2013 WWW.MARKETLINE.COM MARKETLINE. THIS PROFILE IS A
2、LICENSED PRODUCT AND IS NO T TO BE PHOTOCO PIED Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2 EXECUTIVE SUMMARY Market value The Japanese defense spending market shrank by 0.5% in 2012 to reach a value of $59.3 billion
3、. Market value forecast In 2017, the Japanese defense spending market is forecast to have a value of $65.7 billion, an increase of 10.8% since 2012. Market volume The Japanese defense spending market shrank by 0.2% in 2012 to reach a volume of 259.5 thousand personnel. Market volume forecast In 2017
4、, the Japanese defense spending market is forecast to have a volume of 256.7 thousand personnel, a decrease of 1.1% since 2012. Category segmentation Personnel is the largest segment of the defense spending market in Japan, accounting for 42.5% of the markets total value. Geography segmentation Japa
5、n accounts for 16.3% of the Asia-Pacific defense spending market value. Market rivalry Main players within the global market for defense products and systems are large companies with well-established reputations. Such companies are diversified in terms of the products they manufacture and their geog
6、raphical presence; however, they often have similar business models to their competitors which can increase rivalry. Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3 TABLE OF CONTENTS Executive Summary2 Market value 2 Mar
7、ket value forecast.2 Market volume.2 Market volume forecast .2 Category segmentation2 Geography segmentation 2 Market rivalry .2 Market Overview .7 Market definition7 Market analysis .7 Market Data8 Market value 8 Market volume.9 Market Segmentation .10 Category segmentation10 Geography segmentation
8、 11 Market Outlook 12 Market value forecast.12 Market volume forecast .13 Five Forces Analysis 14 Summary 14 Buyer power.15 Supplier power 16 New entrants .17 Threat of substitutes.18 Degree of rivalry19 Leading Companies20 Kawasaki Heavy Industries, Ltd. 20 Lockheed Martin Corporation .24 Mitsubish
9、i Heavy Industries, Ltd. .27 Macroeconomic Indicators.30 Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4 Country Data .30 Appendix.32 Methodology 32 Industry associations33 Related MarketLine research33 Japan - Defense S
10、pending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5 LIST OF TABLES Table 1: Japan defense spending market value: $ billion, 200812.8 Table 2: Japan defense spending market volume: thousand personnel, 2008129 Table 3: Japan defense spending m
11、arket category segmentation: $ billion, 2012 10 Table 4: Japan defense spending market geography segmentation: $ billion, 2012.11 Table 5: Japan defense spending market value forecast: $ billion, 201217 .12 Table 6: Japan defense spending market volume forecast: thousand personnel, 201217 13 Table 7
12、: Kawasaki Heavy Industries, Ltd.: key facts.20 Table 8: Kawasaki Heavy Industries, Ltd.: key financials ($).21 Table 9: Kawasaki Heavy Industries, Ltd.: key financials ().21 Table 10: Kawasaki Heavy Industries, Ltd.: key financial ratios .22 Table 11: Lockheed Martin Corporation: key facts 24 Table
13、 12: Lockheed Martin Corporation: key financials ($)25 Table 13: Lockheed Martin Corporation: key financial ratios.25 Table 14: Mitsubishi Heavy Industries, Ltd.: key facts 27 Table 15: Mitsubishi Heavy Industries, Ltd.: key financials ($)28 Table 16: Mitsubishi Heavy Industries, Ltd.: key financial
14、s ()28 Table 17: Mitsubishi Heavy Industries, Ltd.: key financial ratios.28 Table 18: Japan size of population (million), 200812 .30 Table 19: Japan gdp (constant 2000 prices, $ billion), 200812.30 Table 20: Japan gdp (current prices, $ billion), 200812 .30 Table 21: Japan inflation, 200812 31 Table
15、 22: Japan consumer price index (absolute), 200812.31 Table 23: Japan exchange rate, 200812 31 Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 6 LIST OF FIGURES Figure 1: Japan defense spending market value: $ billion, 200
16、812 .8 Figure 2: Japan defense spending market volume: thousand personnel, 200812 9 Figure 3: Japan defense spending market category segmentation: % share, by value, 2012.10 Figure 4: Japan defense spending market geography segmentation: % share, by value, 2012 .11 Figure 5: Japan defense spending m
17、arket value forecast: $ billion, 201217 12 Figure 6: Japan defense spending market volume forecast: thousand personnel, 201217 .13 Figure 7: Forces driving competition in the defense spending market in Japan, 2012 .14 Figure 8: Drivers of buyer power in the defense spending market in Japan, 2012 15
18、Figure 9: Drivers of supplier power in the defense spending market in Japan, 2012 16 Figure 10: Factors influencing the likelihood of new entrants in the defense spending market in Japan, 2012 .17 Figure 11: Factors influencing the threat of substitutes in the defense spending market in Japan, 20121
19、8 Figure 12: Drivers of degree of rivalry in the defense spending market in Japan, 2012 .19 Figure 13: Kawasaki Heavy Industries, Ltd.: revenues equipment; infrastructure; and other expenditure (which represents all other spending). Volume is measured as the active serving personnel in the national
20、army, air force, navy (including marines and coast guard) and other elements of the service, such as Joint Staff. Any currency conversions used in the creation of this report have been calculated using constant 2012 annual average exchange rates. For the purposes of this report, Asia-Pacific compris
21、es Australia, China, India, Indonesia, Japan, New Zealand, Singapore, South Korea, Taiwan, and Thailand. Market analysis Japans defense spending suffered a decline during the 2008-2012 period; however, forecasts suggest it will return to low growth during 2012-2017. Japanese defense spending had a t
22、otal budget allocation of $59.3bn in 2012, representing a compound annual rate of change (CARC) of -0.5% between 2008 and 2012. In comparison, the Chinese and Indian markets grew with compound annual growth rates (CAGRs) of 13.2% and 14.1% respectively, over the same period, to reach respective valu
23、es of $166.2bn and $45.5bn in 2012. Personnel numbers increased with a CAGR of 1.8% between 2008 and 2012, to reach a total of 259,499 personnel in 2012. The number of personnel is expected to fall to 256,731 by the end of 2017, representing a CARC of -0.2% for the 2012-2017 period. The personnel se
24、gment was the markets most lucrative in 2012, with a total budget allocation of $25.2bn, equivalent to 42.5% of the markets overall value. The equipment segment had a budget allocation of $9.4bn in 2012, equating to 15.9% of the markets aggregate value. The performance of the market is forecast to a
25、ccelerate, with an anticipated CAGR of 2.1% for the five-year period 2012 - 2017, which is expected to drive the market to a value of $65.7bn by the end of 2017. Comparatively, the Chinese and Indian markets will grow with CAGRs of 12.1% and 5.0% respectively, over the same period, to reach respecti
26、ve values of $293.8bn and $58.0bn in 2017. In a July 2013 annual report, Japans defense ministry stated that the country faced increasingly serious threats to its security from China and an unpredictable North Korea. Responding to this perceived threat, the Japanese government increased its defense
27、budget in 2013, a rare occurrence. With a new defense plan due in December 2013, it is likely to see an increase in defense spending for the next few years unless diplomatic relations change between Japan and China. Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PR
28、ODUCT AND IS NOT TO BE PHOTOCOPIED Page | 8 MARKET DATA Market value The Japanese defense spending market shrank by 0.5% in 2012 to reach a value of $59.3 billion. The compound annual rate of change of the market in the period 200812 was -0.5%. Table 1: Japan defense spending market value: $ billion
29、, 200812 Year $ billion billion billion % Growth 2008 60.6 4,833.0 47.1 2009 60.3 4,815.0 46.9 (0.4%) 2010 59.2 4,722.0 46.0 (1.9%) 2011 59.6 4,754.0 46.3 0.7% 2012 59.3 4,729.0 46.1 (0.5%) CAGR: 200812 (0.5%) SOURCE: MARKETLINE M A R K E T L I N E Figure 1: Japan defense spending market value: $ bi
30、llion, 200812 SOURCE: MARKETLINE M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 9 Market volume The Japanese defense spending market shrank by 0.2% in 2012 to reach a volume of 259.5 thousand personnel
31、. The compound annual growth rate of the market in the period 200812 was 1.8%. Table 2: Japan defense spending market volume: thousand personnel, 200812 Year thousand personnel % Growth 2008 242.0 2009 260.4 7.6% 2010 260.4 0% 2011 260.1 (0.1%) 2012 259.5 (0.2%) CAGR: 200812 1.8% SOURCE: MARKETLINE
32、M A R K E T L I N E Figure 2: Japan defense spending market volume: thousand personnel, 200812 SOURCE: MARKETLINE M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 10 MARKET SEGMENTATION Category segmenta
33、tion Personnel is the largest segment of the defense spending market in Japan, accounting for 42.5% of the markets total value. The Equipment segment accounts for a further 15.9% of the market. Table 3: Japan defense spending market category segmentation: $ billion, 2012 Category 2012 % Personnel 25
34、.2 42.5% Equipment 9.4 15.9% Infrastructure 1.2 2.0% Other 23.4 39.6% Total 59.2 100% SOURCE: MARKETLINE M A R K E T L I N E Figure 3: Japan defense spending market category segmentation: % share, by value, 2012 SOURCE: MARKETLINE M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 2012 MARKE
35、TLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 11 Geography segmentation Japan accounts for 16.3% of the Asia-Pacific defense spending market value. China accounts for a further 45.7% of the Asia-Pacific market. Table 4: Japan defense spending market geography segmentat
36、ion: $ billion, 2012 Geography 2012 % China 166.2 45.7 Japan 59.3 16.3 India 45.5 12.5 South Korea 31.7 8.7 Rest of Asia-Pacific 60.8 16.7 Total 363.5 100% SOURCE: MARKETLINE M A R K E T L I N E Figure 4: Japan defense spending market geography segmentation: % share, by value, 2012 SOURCE: MARKETLIN
37、E M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 12 MARKET OUTLOOK Market value forecast In 2017, the Japanese defense spending market is forecast to have a value of $65.7 billion, an increase of 10.8%
38、 since 2012. The compound annual growth rate of the market in the period 201217 is predicted to be 2.1%. Table 5: Japan defense spending market value forecast: $ billion, 201217 Year $ billion billion billion % Growth 2012 59.3 4,729.0 46.1 (0.5%) 2013 59.7 4,766.8 46.5 0.8% 2014 61.2 4,887.3 47.6 2
39、.5% 2015 62.8 5,009.0 48.8 2.5% 2016 64.2 5,126.2 50.0 2.3% 2017 65.7 5,243.1 51.1 2.3% CAGR: 201217 2.1% SOURCE: MARKETLINE M A R K E T L I N E Figure 5: Japan defense spending market value forecast: $ billion, 201217 SOURCE: MARKETLINE M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 201
40、2 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 13 Market volume forecast In 2017, the Japanese defense spending market is forecast to have a volume of 256.7 thousand personnel, a decrease of 1.1% since 2012. The compound annual rate of change of the market in the
41、 period 201217 is predicted to be -0.2%. Table 6: Japan defense spending market volume forecast: thousand personnel, 201217 Year thousand personnel % Growth 2012 259.5 (0.2%) 2013 259.5 0% 2014 257.5 (0.8%) 2015 257.3 (0.1%) 2016 257.1 (0.1%) 2017 256.7 (0.1%) CAGR: 201217 (0.2%) SOURCE: MARKETLINE
42、M A R K E T L I N E Figure 6: Japan defense spending market volume forecast: thousand personnel, 201217 SOURCE: MARKETLINE M A R K E T L I N E Japan - Defense Spending 0104 - 2405 - 2012 MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 14 FIVE FORCES ANALYSIS The def
43、ense spending market will be analyzed taking manufacturers of weapons and defense systems, and national defense departments as players. The key buyers will be taken as national governments, and raw materials and parts manufacturers, and individual personnel as the key suppliers. Summary Figure 7: Fo
44、rces driving competition in the defense spending market in Japan, 2012 SOURCE: MARKETLINE M A R K E T L I N E Main players within the global market for defense products and systems are large companies with well-established reputations. Such companies are diversified in terms of the products they man
45、ufacture and their geographical presence; however, they often have similar business models to their competitors which can increase rivalry. The defense spending market is unique in that its principal buyers are also the market players. The main market players, and the ones this profile focuses on, a
46、re manufacturers of weapons and defense systems. However, national defense departments are also players as they provide the necessary training of military personnel. A nations government is the main buyer, purchasing weapons and defense systems from the players, but also providing its defense depart
47、ment with the funds to pay for recruits training and wages. Suppliers are more conventional, in that they are the raw material and parts manufacturers, and the individual personnel who are either enlisted or volunteer for military service. The only legitimate buyers for military hardware are the gov
48、ernments of sovereign states. This means that the defense market in most countries is a monopsony, which immediately gives great power to the buyer. Defense companies make use of raw materials such as aluminum, titanium and composites, and also components provided by sub-contractors, relying on high
49、 quality materials, thus increasing the power suppliers wield over players. Anyone willing to start a defense products and systems manufacturing company may find it extremely problematic as generally, in order to compete with incumbents, new players need large-scale entry and an integrated business model. There are few substitutes to the purchase of new defense systems and weapons, although one of them is the purchase of used military equipment, usually reserved for smaller nations or developing countries with limi